2 Fintech Startups Made it Into the Rakuten-Techstars Accelerator in Singapore

Rakuten and Techstars revealed the 10 startups selected to join the high-profile Rakuten Accelerator, powered by Techstars, in Singapore.

Selected based on their ability to shape the future of “Messaging as a Platform” for new technologies, the 10 startups will undergo an intensive 13-week mentor-driven program to rapidly develop their products and go-to-market strategy, with the support of the Techstars and Rakuten global networks.

Each startup will receive a US$120,000 investment, access to the Techstars Network of over 10,000 founders, alumni, and mentors, and 400 perks worth over US$1 million.

Participants in Rakuten Accelerator will also have access to resources from across Rakuten’s global ecosystem of more than 70 services, including Rakuten Viber messaging and voice platform. With hundreds of millions of users around the world, Viber also recently become the official communication channel of FC Barcelona and Official Instant Messaging and Calling App Partner of the Golden State Warriors.

Michael Shmilov, COO of Rakuten Viber said,

Michael Shmilov

“We are thrilled to welcome an amazing group of talented entrepreneurs from around the world who share Rakuten’s passion for innovative thinking and empowerment.

For Rakuten Viber, our mission of borderless communication means constant innovation for the way people connect around the world and we look forward to working together with our inaugural Accelerator class to revolutionize how businesses and consumers use messaging to conduct business and stay connected.”

The program will be one of the most internationally populated Techstars startup accelerators ever, with startups from Singapore, Canada, Hungary, Lebanon, the Philippines, South Korea, Taiwan, the UK and the US. The companies offer products on a wide range of social messaging related technologies including AI, chatbots, adtech, payments, and collaboration tools.

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In charge of the program are newly appointed Managing Director Dhritiman Hui and Program Manager Dennis List. Dhritiman was most recently an Investment Director at Tuscan Ventures, an investment firm based in India, and prior to that an Investment Director at BW Ventures, a global investment firm that both funded startups and provided growth capital to and brick-and-mortar companies. Dennis is the former Partnerships and Program Manager for Impact Hub Singapore, and a tech entrepreneur who founded and was CEO of Rocki, a music tech startup which graduated from Techstars Boston accelerator in late 2014.

Dhritiman Hui said:

“Techstars and Rakuten have searched the world to attract the most innovative startups working on messaging-as-a-platform technologies – and are incredibly humbled to have secured the best of the best to come to Singapore to join our program.

Our two Singapore companies – AND Global and Shoffr – are joined by eight other startups from Asia-Pacific, Europe and the Americas. All of these companies have developed advanced technology in their fields, many have already gained traction with customers. They will benefit from a transformational experience over the coming weeks, in what is gearing up to be Asia’s most exciting startup technology accelerator.”

The startups will relocate to a dedicated space at WeWork 71 Robinson. With its second location in Singapore, WeWork will be bringing Techstars to the local wider community while seamlessly connecting them to WeWork’s global network.